News and AnalysIs for

Parex Resources (TSX:PXT) saw a slight sequential increase in oil production during the second quarter of 2016, and shrunk its loss, nearing the breakeven point.

Colombia’s central bank updated its official numbers for Foreign Direct Investment (FDI) in the petroleum sector and there is good news and bad news.

Gran Tierra (TSX:GTE) second quarter 2016 production held, and the firm said that it has deferred planned workovers to the second half, and expects improvements in the oil price to continue. The second half will also include contributions from the recent acquisition of PetroLatina.

Ecopetrol (NYSE:EC) has proposed moving its Lorita-1 well, part of an exploration project, due to concerns from residents in the Municipality of Guamal, Meta. The NOC said that the project will go forward, although it has been discussed now for over three years.

Iván Cortés, the manager of Llanopetrol, the controversial firm created by former Meta Governor Alan Jara to build a refinery in the department, took to the press to defend the project, and assured that it is no white elephant.

The first warnings that Ecopetrol’s (NYSE:EC) honeymoon after taking over the Rubiales field could be coming to a close have emerged. Community groups are complaining that few of the NOC’s contractors have socialized their projects with locals, and want a greater focus on local hiring.

Ecopetrol (NYSE:EC) and the national government reached an agreement with the U’wa indigious community which allowed NOC personnel to restart and secure the Gibraltar Gas plant after weeks of U’wa occupation.

In Yaguará, Huila, Ecopetrol (NYSE:EC) insists that it has hired 100% of its unskilled labor locally and 30% of skilled labor, but individuals in the community have maintained blockades affecting five wells for nearly two months.

A conflict between Ecopetrol’s (NYSE:EC) subsidiary Hocol with an indigenous community in Ortega, Tolima has stretched for more than eight months and shows no signs of improvement. Now the municipality is warning it has no resources for public services as a result.

The president of Equion, María Victoria Riaño, said that the main problem facing the company today is “civil disorder” at the national level, affecting investment and company results, fueled by a lack of clear rules.